SIMIC

MEDITERRANEAN Shipping Company (MSC) plans to purchase around 50 per cent of Hamburger Hafen und Logistik Aktiengesellschaft (HHLA), according to London's Port Technology.

Under a binding Memorandum of Understanding (MoU) with the Free and Hanseatic City of Hamburg, MSC aims to purchase all of HHLA's free-floating A-Shares and announce the start of a voluntary public takeover offer.

HHLA would be run as a strategic joint venture, with the City owning 50.1 per cent and MSC eventually owning 49.9 per cent.

Beginning in 2025, MSC aims to significantly boost its container throughput at HHLA terminals in Hamburg, with the goal of reaching at least 1,000,000 TEU per year by 2031.

In addition, MSC will establish its new German headquarters with several hundred employees in Hamburg.

MSC and the City of Hamburg also agreed to commit on a long-term investment plan to be developed in alignment with HHLA.

The partnership's aim is to provide a solid and well-funded foundation for the further growth of HHLA and the Port of Hamburg as a vital hub for MSC's internationally integrated network of container services and logistics chains.

In August 2023, the Port of Hamburg released data indicating improved container handling in every month of the first half.

One month later, ZIM Integrated Shipping Services Ltd (ZIM) announced a new operational cooperation agreement with MSC.